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Strategies & Market Trends : Ride the Tiger with CD
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To: dara who wrote (299626)5/27/2023 3:24:45 PM
From: dara  Read Replies (1) of 312326
 
COTS as of May 23, 2023

US $ Rally Continues, Debt Ceiling Negotiations Likely to be Resolved

Another change for this week. The commercials decreased their net short position in both silver and gold by decreasing their shorts and increasing their longs. The change in silver was small while the change in gold was substantial.

Ed Steer's Comments:

on silver (as with last week):

"and from a COMEX futures market perspective, the set-up in silver is still very bullish...a very far cry from what it is in gold."

on gold:

"But from a COMEX futures market perspective, the set up in gold is still very bearish from a medium term perspective...since March of last year."

and in general:

"Looking back at the reporting week just past, the same phenomenon occurred in gold that happened in silver. There was a big down day to a new low close on Thursday, followed by a big rally the following day on Friday that may have thrown that proverbial spanner into the golden works as well."

Check out the graphs this week as they show the build up in net short positions more clearly. They are labelled "Position: Short" under the tradingster links here and here.



















Disaggregated futures and options - combined report:

cftc.gov

Legacy Report: Futures Only Commodity Exchange Incorporated:

cftc.gov
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